Illinois Compiled Statutes 15 Executive Officers: Article -
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 0.01
Short title. This Act may be cited as the Deposit of State Moneys Act. (Source: P.A. 86-1324.)
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 1
The State Treasurer shall deposit all moneys received by him on account of the State within five days after receiving the same in such...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 1.1
When investing or depositing public funds, each custodian shall, to the extent permitted by this Act and by the lawful and reasonable performance of...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 1.2
(a) The General Assembly finds that it is in the best interests of the people of the State of Illinois to use monies in...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 2
All banks or savings and loan associations in which any such money is deposited shall be required to pay interest on time deposit accounts...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 3
The State Treasurer shall, at such times as he may in his discretion determine, cause a notice to be sent to each savings and...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 4
There shall be two classes of depositaries, time deposit and demand deposit, and separate proposals shall be obtained for each class. In calling for...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 5
Each proposal shall state the amount of deposits sought by such proposals and the rate of interest such bank or savings and loan association...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 6
Within 5 days after the last day named for the receipt of proposals, such proposals shall be publicly opened by the State Treasurer in...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 7
(a) Proposals made may either be approved or rejected by the State Treasurer. A bank or savings and loan association whose proposal is approved shall...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 8
All proposals shall be filed in the office of the State Treasurer, and shall be open at all reasonable hours to public inspection. The...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 9
The approval of any proposal shall confer no right upon any bank or savings and loan association to receive deposits of public money. (Source:...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 10
The State Treasurer may enter into agreement in conformity with this Act with any bank or savings and loan association relating to the deposit...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 11
Protection of public deposits; eligible collateral. (a) For deposits not insured by an agency of the federal government, the State Treasurer, in his or her...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 11.1
The State Treasurer may, in his or her discretion, accept as security for State deposits insured certificates of deposit or share certificates issued to...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 12
All securities deposited by approved banks or savings and loan associations under the provisions of this Act shall remain the property of the banks...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 13
The State Treasurer shall designate one or more banks or savings and loan associations for demand deposits. The money deposited in time deposits shall...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 14
Interest. The Treasurer shall enter into deposit agreements with financial institutions specifying the manner of interest calculation and compounding and the frequency of interest...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 15
(a) A bank or savings and loan association approved as a depositary shall cease to be an approved bank or savings and loan association,...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 16
Daily balance statements. Each bank or savings and loan association shall on or before the last Monday of each month receive from the State...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 16.1
Depository reports. The State Treasurer may request, at his discretion, a financial institution, as a condition to serving as a State depository of public...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 16.3
Consideration of financial institution's commitment to its community. (a) In addition to any other requirements of this Act, the State Treasurer is authorized to...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 17
The State Treasurer shall keep in his office a record showing his account with each bank or savings and loan association, with entries therein...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 18
The State Treasurer shall make a monthly report to the Governor giving a detailed statement of the balances on deposit in the several banks...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 19
Nothing in this Act contained shall be held to prevent the State Treasurer from withdrawing any, or all, of the moneys so deposited, for...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 20
No bank or savings and loan association holding moneys deposited therewith by the State Treasurer, in accordance with the provisions of this Act, or...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 21
The making of a personal profit or emolument by the State Treasurer out of any public moneys by loaning, depositing, or otherwise using or...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 22
No securities, deposited with the State Treasurer, shall be removed from the State treasury except under the terms of this Act. The misappropriation or...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 22.5
Permitted investments. The State Treasurer may, with the approval of the Governor, invest and reinvest any State money in the treasury which is not needed...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 22.6
(Repealed). (Source: P.A. 94-79, eff. 1-27-06. Repealed by P.A. 95-521, eff. 8-28-07.)
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 22.8
The Treasurer shall develop, publish, and implement an investment policy covering the management of all State funds under his or her control. The investment...
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 22.9
(Repealed). (Source: P.A. 96-1181, eff. 7-22-10. Repealed internally, eff. 12-31-11.)
- Illinois Deposit of State Moneys Act. - 15 ILCS 520, Section 23
Any State official or other person who wilfully violates any provision of this Act, for which a penalty is not otherwise prescribed, or who...
Last modified: February 18, 2015